Geneva-based Mercuria Energy Group Ltd. is in talks with US-backed investment firm TechMet Ltd. regarding a joint project to extract tantalum in the eastern part of the Democratic Republic of Congo. The initiative is being considered on the condition that the Donald Trump administration can facilitate a peace agreement in the region. This is reported by Bloomberg, writes UNN.
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According to sources, the companies plan to modernize the extraction and processing of coltan ore near the city of Rubaya – one of the world's richest tantalum deposits, a key mineral for the production of electronics, defense technologies, and aviation.
The project is consistent with Washington's plan to increase investment in Congolese resources, including copper, cobalt, and lithium. However, for work to begin, the withdrawal of M23 militants, who currently control most of the mines in the region and, according to the US and UN, are supported by Rwanda, is necessary.
The state-owned company SAKIMA, which owns the concession near Rubaya, still does not have access to the deposit due to the conflict. At the same time, it won a legal dispute over the ownership of the license.
Mercuria, TechMet, and SAKIMA declined to comment on the negotiations. According to estimates by the US Geological Survey, Congo and Rwanda account for about 60% of the world's tantalum production, which in 2024 amounted to approximately 2,500 tons.
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